FirstEnergy Corporation $FE Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in FirstEnergy Corporation (NYSE:FE) in the 3rd quarter, HoldingsChannel reports. The fund acquired 132,650 shares of the utilities provider’s stock, valued at approximately $5,748,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in FirstEnergy by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider’s stock valued at $508,158,000 after acquiring an additional 694,449 shares in the last quarter. Bank of America Corp DE lifted its holdings in FirstEnergy by 11.9% in the first quarter. Bank of America Corp DE now owns 5,396,317 shares of the utilities provider’s stock valued at $273,377,000 after acquiring an additional 573,731 shares during the period. Electron Capital Partners LLC lifted its holdings in FirstEnergy by 103.2% in the first quarter. Electron Capital Partners LLC now owns 2,991,914 shares of the utilities provider’s stock valued at $151,570,000 after acquiring an additional 1,519,737 shares during the period. Dimensional Fund Advisors LP boosted its position in FirstEnergy by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,627,745 shares of the utilities provider’s stock worth $133,116,000 after purchasing an additional 35,259 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its position in FirstEnergy by 6.4% in the 1st quarter. BROOKFIELD Corp ON now owns 2,621,338 shares of the utilities provider’s stock worth $132,797,000 after purchasing an additional 156,920 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on FE. Jefferies Financial Group reaffirmed a “hold” rating on shares of FirstEnergy in a research note on Thursday, October 22nd. JPMorgan Chase & Co. decreased their target price on shares of FirstEnergy from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Weiss Ratings raised shares of FirstEnergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. HSBC started coverage on shares of FirstEnergy in a research report on Thursday, October 22nd. They set a “buy” rating and a $50.00 price target on the stock. Finally, Mizuho set a $47.00 price objective on shares of FirstEnergy in a report on Monday, October 12th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.77.

FirstEnergy Trading Down 0.1%

Shares of FE stock opened at $47.13 on Friday. The stock’s fifty day moving average is $45.48 and its two-hundred day moving average is $47.52. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.31 and a current ratio of 0.38. The firm has a market capitalization of $27.28 billion, a P/E ratio of 17.28, a PEG ratio of 2.77 and a beta of 0.39. FirstEnergy Corporation has a fifty-two week low of $42.67 and a fifty-two week high of $52.34.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.24 billion. FirstEnergy had a net margin of 7.40% and a return on equity of 11.07%. FirstEnergy’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS. Research analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be given a dividend of $0.4650 per share. The ex-dividend date is Friday, November 6th. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. FirstEnergy’s dividend payout ratio (DPR) is presently 89.42%.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.

FirstEnergy’s distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.